2015 YEAR-END ECONOMIC REPORT

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CYBERSECURITY In addition to the various economic, financing and policy questions we asked in this survey, NSBA also dedicated several questions to the issue of cybersecurity and how cyber-crimes impact America’s small firms. Given the increasingly commonplace occurrence of hacking and cyber-crimes, coupled with the fact that small-business owners are handling more of their firm’s IT operations, cybersecurity is a growing concern for small business. Today, 42 percent of small businesses report they have been the victim of a cyber-attack – down from 50 percent just one year ago. That likely is due to growing media coverage of cyberattacks as well as improved protections against these attacks. The most common kind of cyber-attack was: general computer hacks, followed by stolen credit card information and website hacks. There was a notable increase over the last year in the amount of time required to resolve a cyber-attack: today, 42 percent say it took them more than three days to resolve the issue, up from 36 percent last year. Cyber-attacks cost small businesses on average $7,115.26. For those firms whose business banking accounts were hacked, the average losses were $32, 020.56, up from $19,948 one year ago. This significant jump is likely due, at least in part, to the increased sophistication in phishing and hacking schemes as well as an improved economy that finds greater funds available in many small firms’ bank accounts than was there previously. Has your business been the victim of a cyber-attack (i.e. computer virus, malware/spyware, website hack, credit card or banking hack or trojan, etc.)? DEC. 2015 DEC. 2014 Never 58% 50% Only once 17% 16% 2 to 5 times 21% 28% More than 5 times 4% 6% What was the nature of the cyber-attack? (check all that apply) My computers were hacked 34% My credit card information was stolen 31% My website was hacked 17% Our entire network was hacked 13% My bank account was hacked 10% My company information was hacked from a third-party (i.e.: insurance company, accounting company, etc…) Our cloud data was hacked 2% Other 16% Has your business been the victim of a cyber-attack (i.e. computer virus, malware/spyware, website hack, credit card or banking hack or trojan, etc.)? 7% DEC. 2015 DEC. 2014 In the last 12 months 63% 61% Between 1 and 2 years ago 22% 27% Between 3 and 5 years ago 11% 10% More than 5 years ago 4% 3% 2015 YEAR-END ECONOMIC REPORT 12 NATIONAL SMALL BUSINESS ASSOCIATION
CYBERSECURITY On average, how long did it take to resolve cyber attacks? DEC. 2015 DEC. 2014 AUG. 2013 Less than 1 day 24% 30% 38% Between 1 – 3 days 34% 34% 40% Between 3 – 7 days 15% 14% 11% More than a week 10% 9% 7% More than two weeks 16% 13% 5% How have cyber attacks impacted your business? (check all that apply) I incurred a service interruption 48% My website was down 25% Information was falsely sent from my domains or email addresses 22% The attack enabled hackers to access my business credit card(s) 20% Sensitive information and data was stolen 8% The attack enabled hackers to access my business banking account(s) 8% Information about and/or from my clients was stolen 4% Other (please specify) 13% Approximately how much did this cyber-attack cost your business? Average Estimated Cost Average Money Stolen from Bank Account $7,115.26 $32,020.56 2015 YEAR-END ECONOMIC REPORT 13 NATIONAL SMALL BUSINESS ASSOCIATION
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Page 5 and 6: ECONOMIC OUTLOOK What are the three
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Page 15 and 16: PUBLIC POLICY In what ways have you
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2015 YEAR-END ECONOMIC REPORT

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